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3 years ago

Fit & Slim (F&S) is a health club that offers members various gym services.

Business

1 answer:

Hoochie [10]3 years ago

6 0

Answer:

a. they are separate performance obligations

normal price of annual membership = $1,140

one yer enrollment in yoga = $600 x (30% - 10%) = $120 x 50% = $60

total $1,200

% of price allocated to:

annual membership = ($1,140 / $1,200) x $1,100 = $1,045

discount voucher = $1,100 - $1,045 = $55

b. the journal entry should be

Dr Cash 1,100

Cr Unearned revenue, membership fees 1,045

Cr Unearned revenue, discount voucher 55

You might be interested in

An example of a risk is _____. taxes insurance an employee injury rent

andre [41]

I believe the answer is: Injury
Risk refers to the danger or negative outcomes that arise when we decided to follow a certain decision.
From the options above, taxes and rent are considered as Obligations rather than a risk.
And insurance is considered as risk management, not the risk itself.

7 0

3 years ago

When a movie theater charges a lower ticket price for senior citizens and/or students, the movie theater is engaging in_________

MariettaO [177]

Answer:

b) third-degree price discrimination.

Explanation:

The price gouging happens on prices when is carried out by the seller, goods, services or goods to a higher level than what is considered acceptable or fair and potentially considered unethically. This usually occurs after a demand or supply shock. Common examples include price increases for basic needs after hurricanes or other natural disasters.

First-degree discrimination (perfect price discrimination) appears when a business charges the maximum possible price for each unit consumed because prices are diverse among some units. In this case, where a company charges a different price for every good or service sold.

Second-degree price discrimination is the concept in which a company charges a different price when there are demands for different quantities consumed, such as quantity discounts on bulk purchases.

Third-degree price discrimination is the case in which a company charges a different price to different consumer groups. This is the type of most common type of price discrimination. If we see in the question there is given distinctive ticket price offers to senior citizens and/or students. That’s why we should choose third-degree price discrimination.

8 0

3 years ago

At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $195,000 and Total Liabilities of $75,000.

olchik [2.2K]

Answer:

The answer is: Equity at the end of the year will be $123,000

Explanation:

At the beginning of the year the balance sheet was as following:

assets $195,000 liabilities $75,000

equity $ 120,000

Then during the year the income statement is:

total revenues $226,000
total expenses $175,000
net income $ 51,000 (this increases assets and equity)

If the owners withdrew $48,000, then cash and equity will decrease.

The ending balance for the year:

assets $195,000 + $51,000 liabilities $75,000

-$48,000 = equity $120,000 + $51,000 - $48,000 =

$198,000 $123,000

5 0

3 years ago

If actual sales totaled $450,000 for the current year (30,000 units at $15 each) and planned sales were $540,000 (45,000 units a

torisob [31]

Answer:

Option B, $45,000, is the right answer.

Explanation:

Given actual sales = $450000

Actual units that is sold = 30000 units

Actual selling price = $15 per unit

Planned sales = $540000

Planned units = 45000

Planned selling price = $12 per units.

The difference between actual and planned sales due to unit price factor = change in units × change in price

= (45000 – 30000) × (15 – 12)

= $45000

Thus option B is correct.

4 0

3 years ago

Birk Co. uses a job order cost system. The following debits (credits) appeared in Birk's work-in-process account for the month o

svp [43]

Answer:

The amount of direct materials charged to Job No. 5 is $5,200.

Explanation:

Work in process, April 30 = Balance + Direct material + Direct labor + Factory overhead - Cost of finished goods

= $4,000 + 24,000 + 16,000 + 12,800 - 48,000

= $8,800

Job No 5 = Work in process, April 30 = $8,800

Job No 5 = Direct material + Direct labor + Factory overhead

$8,800 = Direct material + $2,000 + $1,600 ($2,000 * 80%)

Direct material = $8,800 - $2,000 - $1,600

= $5,200

Therefore, The amount of direct materials charged to Job No. 5 is $5,200.

5 0

3 years ago